U.S. International Trade In Goods and Services - November 2008

[FarCenter]

Source: US Department of Commerce

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total November exports of $142.8 billion and imports of $183.2 billion resulted in a goods and services deficit of $40.4 billion, down from $56.7 billion in October, revised. November exports were $8.7 billion less than October exports of $151.5 billion. November imports were $25.0 billion less than October imports of $208.2 billion.

In November, the goods deficit decreased $16.6 billion from October to $52.4 billion, and the services surplus decreased $0.4 billion to $12.0 billion. Exports of goods decreased $7.6 billion to $97.2 billion, and imports of goods decreased $24.2 billion to $149.7 billion. Exports of services decreased $1.2 billion to $45.6 billion, and imports of services decreased $0.8 billion to $33.6 billion.

In November 2008, the goods and services deficit decreased $19.4 billion from November 2007. Exports were down $2.4 billion, or 1.7 percent, and imports were down $21.8 billion, or 10.6 percent.

Read more: http://www.census.gov/foreign-trade/Press-Release/current_press_release/ft900.pdf

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The November 2008 shrinking of the trade deficit is very good news.

[depakid]

1. That's the most its shrunk in 12 years

Down to 2003 levels

Granted, much of it was due to lower oil prices- and its not necessarily all good news, but the real question is whether the trend can or will continue once the world's economies begin to recover late next year and.or in 2010.

[pattmarty]

2. The main reason is the economy is in the shitter. The only places .....

..........we can "buy" the trinkets we love & (sometimes) need is to buy them from China, India, Indonesia etc. You can bet your Toyota that if the economy didn't tank the deficit would be growing larger by the month.